Business
Energy firms told to pass on £150 discount to customers on fixed tariffs
The Government has told energy firms to ensure consumers on fixed tariffs also benefit from the £150 cut to household bills announced in the Budget.
Chancellor Rachel Reeves announced she was taking action to get energy bills down and reduce the cost of living, with an average £150 cut from the average household bill from April.
Ms Reeves said she would do this by scrapping the Energy Company Obligation (Eco) scheme introduced by the Tories in government, which she claimed had cost households £1.7 billion a year on their bills.
On Wednesday, Energy Secretary Ed Miliband wrote to energy firms, calling on them to ensure that consumers on fixed energy tariffs benefit from the cut.
A fixed energy tariff means a household’s unit rates and standing charge stays the same for the length of the contract agreed with the supplier – which tend to be a year or longer.
Those on standard variable tariffs pay changing rates as wholesale market costs paid by the supplier go up or down and are not limited to a set time frame.
In his letter, Mr Miliband wrote: “This government has made a clear commitment to cut people’s bills and help ease the financial pressure on millions of families, as we know energy costs cause such anxiety for many people, and that is why we are acting now.
“As we move forward, we want to set out our clear expectation that every single penny of our intervention at this Budget is passed onto consumers, including those on existing fixed term tariffs.
“Around 37% of the market is now on a fixed term tariff and government is clear that they must benefit from this reduction in bills.
“We urge you to continue to work with our department to ensure that this happens.
“This close, joint working will be both welcomed and reassuring for customers, demonstrating our shared commitment to fairness and consumer protection.
“Thank you once again for your partnership and for your efforts to ensure that these positive changes reach every household.”
According to latest Ofgem figures, around 21 million domestic customers’ energy accounts are on fixed tariffs, while around 34 million remain on standard variable tariffs.
Business
IndiGo Share Price Slips 2% In Focus As Massive Flight Disruptions Hit Operations Nationwide
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InterGlobe Aviation Limited faced nationwide IndiGo flight delays and cancellations due to technology issues, congestion, weather, and new crew rostering rules.
IndiGo Plane (Representative Image)
IndiGo Share Price: Shares of InterGlobe Aviation Limited, the parent firm of IndiGo airline, slipped 2 per cent intraday to touch a low at Rs 5,405 apiece today, after the operator faced massive flight delays and cancellations nationwide due to technology issues, airport congestion, and operational requirements.
The disruption has left thousands of passengers stranded at airports. On Wednesday, multiple airports, including Delhi, Mumbai, Hyderabad, Bengaluru, Ahmedabad, reported over 100 flight cancellations till the afternoon.
The scrip was trading at Rs 5,545 apiece, with a fall of 0.88 per cent around 9.40 AM, against the previous day close at Rs 5,595 apiece.
In a statement, the airline acknowledged that its operations had been “significantly disrupted across the network for the past two days” and issued an apology to passengers.
“A multitude of unforeseen operational challenges including minor technology glitches, schedule changes linked to the winter season, adverse weather conditions, increased congestion in the aviation system and the implementation of updated crew rostering rules (Flight Duty Time Limitations) had a negative compounding impact on our operations in a way that was not feasible to be anticipated,” an IndiGo spokesperson said as stated in the statement.
To stabilise operations, the airline said it has begun calibrated adjustments to its flight schedules, a temporary measure expected to remain in place for the next 48 hours. The adjustments, it said, will help restore punctuality and limit further disruptions.
The cascading disruptions also reflect the airline’s recent struggles with punctuality. Government data showed that only 35% of IndiGo flights were on time on December 2, and 49.5% operated on time on December 1.
“Our teams are working around the clock to ease customer discomfort… affected customers are being offered alternate travel arrangements or refunds, as applicable,” the spokesperson added.
IndiGo has urged passengers to check flight status online before heading to the airport, as terminals in several cities remain crowded with stranded travellers seeking rebooking and assistance.
The airline is facing a severe pilot shortage ever since the new flight duty time limitation (FDTL) norms became applicable last month, which lay out more humane rostering for crew.
Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
Click here to add News18 as your preferred news source on Google. December 04, 2025, 08:43 IST
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Stocks to watch: Shares of firms like Infosys, ONGC, Pine Labs, JSW Steel, IndiGo, Tata Capital, and others will be in focus on Thursday’s trade
Stocks To Watch
Stocks to Watch on December 4: Markets saw a volatile session and settled marginally lower, extending the ongoing consolidation phase. Sentiment took a hit as the rupee weakened to a record low of 90.13 against the dollar, raising concerns over higher import costs and triggering FII outflows. Caution ahead of the MPC meeting and mixed global cues further weighed on investor mood.
During the session, the Nifty slipped below the key short-term support of the 20-DEMA near the 25,950 level, but a recovery in the final hour helped it reclaim this mark. Analysts advised investors to manage position sizes carefully and stay selective—preferring IT and pharma stocks for long trades, while looking at rate-sensitive sectors on dips.
Meanwhile, here are some of the top stocks to watch today:
ONGC:
The government has approved a one-year extension for Arun Singh as chairman of ONGC. His three-year term was set to end on December 6. Singh, who retired as chairman of Bharat Petroleum Corporation in 2022, was appointed to revive ONGC at a time when the company was facing years of declining output.
Reliance Industries:
Reliance Strategic Business Ventures, a wholly owned subsidiary of Reliance Industries, along with Surrey County Cricket Club, announced a partnership in the Oval Invincibles franchise in The Hundred. This follows a deal under which the two entities will hold 49 per cent and 51 per cent stakes, respectively, with ownership transferred from the England and Wales Cricket Board.
Infosys:
The IT major is witnessing rising client interest in India-based global capability centres (GCCs). Several new engagements are now beginning with proposals to set up GCCs before expanding into wider technology partnerships, a senior executive said on Wednesday. The company is also stepping up efforts to capture a larger share of the expanding GCC market.
Pine Labs:
The fintech firm reported a consolidated net profit of ₹5.97 crore in Q2 FY26, compared with a loss of ₹32.01 crore in Q2 FY25. Revenue from operations rose 17.82 per cent year-on-year to ₹649.9 crore from ₹551.57 crore.
Cipla:
In partnership with Stempeutics Research, Cipla announced its entry into orthobiologic medicine with the launch of Ciplostem—an allogeneic mesenchymal stromal cell (MSC) therapy for knee osteoarthritis.
JSW Steel:
Sajjan Jindal-led JSW Steel and JFE Steel Corporation will jointly own and operate the steel business of Bhushan Power and Steel Ltd (BPSL) under an equal partnership. The Japanese steelmaker will acquire a 50 per cent stake in the joint venture for ₹15,750 crore.
InterGlobe Aviation (IndiGo):
India’s largest airline has cancelled more than 300 flights over the past two days and delayed hundreds more as a growing pilot shortage disrupted operations following the implementation of new flight duty time limitation (FDTL) rules, aviation industry sources said.
RailTel Corporation of India:
The company informed exchanges that it has received a work order from the Mumbai Metropolitan Region Development Authority for a project worth ₹48.78 crore, excluding tax.
Indian Energy Exchange:
India’s leading electricity exchange recorded a monthly electricity traded volume (excluding TRAS) of 11,409 MU in November 2025, reflecting a 17.7 per cent year-on-year increase. A total of 4.74 lakh Renewable Energy Certificates were traded during the month.
Bank of Maharashtra:
The offer-for-sale (OFS) of the bank closed for subscription on Wednesday at a floor price of ₹54 per share. At this price, the government stands to raise about ₹2,492 crore by divesting its 6 per cent stake. Before the OFS, the government held 79.60 per cent in the bank. Post dilution to 73.6 per cent, the bank will meet the minimum public shareholding (MPS) norm of 25 per cent.
Tata Capital:
Sebi has passed a settlement order related to a suo motu settlement application filed by the company under the Sebi (Settlement Proceedings) Regulations, 2018. Tata Capital also said it has paid the settlement amount of ₹14,40,000.
Lemon Tree Hotels:
The company has signed a licence agreement for “Lemon Tree Hotel” at Pacific Mall, Jaipur. The property will be managed by Carnation Hotels Private Limited, a wholly owned subsidiary of Lemon Tree Hotels Limited.
Vintage Coffee and Beverages:
The company has launched 100 per cent pure instant coffee in India as part of its expansion into the fast-growing coffee and beverages market. Following the opening of the Vintage Coffee Café in Nerul, Navi Mumbai in September 2024, and the successful launch of two brands in the conventional roast and ground coffee segment on select e-commerce platforms, the instant coffee launch further strengthens its product portfolio and consumer reach.
Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
Click here to add News18 as your preferred news source on Google. December 04, 2025, 07:59 IST
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Traffic on Interstate 80 in San Pablo, California, US, on Wednesday, Nov. 26, 2025.
David Paul Morris | Bloomberg | Getty Images
President Donald Trump on Wednesday proposed big cuts to strict fuel economy standards for passenger cars enacted under the Biden administration.
“We are officially terminating Joe Biden’s ridiculously burdensome, horrible actually, CAFE standards that imposed expensive restrictions,” Trump said at the Oval Office, flanked by the CEOs of Ford Motor and Stellantis.
The Corporate Average Fuel Economy, or CAFE, standards date back to 1975 and have been tightened over the years to make vehicles more efficient.
Former President Joe Biden had required automakers to increase the fuel efficiency of passenger cars and light trucks to about 50 miles per gallon by 2031. These stricter standards were expected to stimulate the production and sale of electric vehicles in the U.S.
The standards proposed by the Trump administration would require cars to get about 34 miles to the gallon by 2031, according to the National Highway Traffic Safety Administration.
Trump has sought to dismantle pollution regulations and federal support for electric vehicles as well as renewable energy since taking office.
The oil industry group the American Petroleum Institute has lobbied the Trump administration to repeal the Biden fuel economy standards, contending that they aim to phase out liquid fuel vehicles.
The announcement was attended by Ford CEO Jim Farley and Stellantis CEO Antonio Filosa, as well as a plant manager for General Motors from Michigan.
Ford CEO Jim Farley and Stellantis CEO Antonio Filosa listen as U.S. President Donald Trump announces new fuel economy standards, in the Oval Office at the White House in Washington, D.C., U.S., December 3, 2025.
Brian Snyder | Reuters
Many of the officials in attendance, including U.S. dealers, said the new standards are more in line with the vehicles customers want to buy rather than the more costly ones automakers have been pushed to produce due to regulations.
Trump and other officials also touted the new regulations as assisting in vehicle affordability, which has been an ongoing concern for the automotive industry, as the average new vehicle purchased hovers around $50,000.
The Alliance for Automotive Innovation, a trade group that represents the majority of automakers operating in the U.S., also praised the cuts.
“We’re reviewing NHTSA’s announcement, but we’re glad the agency has proposed new fuel economy standards,” John Bozzella, CEO of the organization, said in a statement. “We’ve been clear and consistent: The current CAFE rules finalized under the previous administration are extremely challenging for automakers to achieve given the current marketplace for EVs.”
U.S. EV leader Tesla did not respond for comment regarding the reduced standards.
— CNBC’s Phil LeBeau and Lora Kolodny contributed to this report.
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